On May 15, Torchlight Energy Resources Inc. (NASDAQ: TRCH) detailed its first-quarter 2014 financial results. The quarter ended March 31, the company said.
Revenues increased by 198% from first-quarter 2013 to first-quarter 2014, the company said. Revenues were $0.64 million, the company added. Revenues from oil and natural gas sales were $642,970, the company said.
Regarding capital, $7 million was raised through common stock sales during first-quarter 2014, Torchlight Energy said.
Torchlight had $22 million in assets and $12.8 million in shareholders’ equity on March 31, the company said, compared ...